You Can Now Buy Shares in Michael Jordan's 'Shattered Backboard' Game Sneakers
Everyone now knows rare and collectible sneakers are big money. Especially when they are worn by the man MJ himself for the iconic 'shattered backboard' match. This very pair sold for R9.3 Million ($615k) in August this year. Now, Christie's Auction house has partnered with OTIS to give anyone the chance to invest from about R150 in the iconic pair.
Photo-matched by over 30 shots and verified by leading authentication service James Spencer, this size 13.5 OG Air Jordan 1 'Chicago' from 1985 is signed on the lateral collar of both shoes and even features a small piece of glass still lodged in the left foot’s sole.
Collectables like this have usually been left to the super-rich, but Otis aims to change this - offering it as an alternative to investing in traditional stocks. How it works is simple: interested parties can 'invest' in the shoe — valued at R10.6 Million ($700k) by Otis — for about R150 a 'share.' These investors can either sell their individual shares through the Otis app, or will be cashed out when Otis sells the shoe in full.
While it may seem crazy to some to put money down on a worn pair of shoes, Michael Jordan memorabilia has recently spiked in value since the airing of everyone's favourite The Last Dance series. So there is no guessing where it could go in the future too...